Oil explorer drilling in Central America.. Belize .




Floated in the Summer on the AIM.
http://www.nwoilgas.com/

Valued at �5mill that includes � 3 mill cash...4.75p to buy..I hold.

hope for a good day tomorrow

New World Oil & Gas said it has decided to plug and abandon its Blue Creek #2A ST well after it decided there were insufficient commercial quantities of moveable hydrocarbons.

It said technical data from the Blue Creek #2 and #2A ST wells would play an in important role in the drilling of its next well, the Rio Bravo #1 in West Gallon Jug Crest.

"At this time, the West Gallon Jug Crest location is drill ready, with a drilling pad, access road, base camp, water well and other infrastructure all in place," the company said.

"It is anticipated that the drilling of the Rio Bravo #1 well will commence in first-quarter 2013. The well is planned to be drilled to a depth of 8,400 feet," it said.

The West Gallon Jug Crest prospect shows P50 un-risked prospective resources of 113 million barrels of oil, with a P50 net present value of $2.6 billion

Bad news to all investors no commercial oil in the end.

Ouch!
And as for----"At this time, the West Gallon Jug Crest location is drill ready, with a drilling pad, access road, base camp, water well and other infrastructure all in place," the company said.----That's all fine and dandy as long as there is commercial quantities there.
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Deeply disappointing. Any thoughts on whether the West Gallon Jug worth hanging on for?

What other exploration stories do you favour? One needs a handful as there will always be these sort of reversals.

Hi all-
I have watched the shares in this company for a few months now and I have now taken the decision to BUY some shares at @3p - i feel that the risk/reward ratio favours the reward at this level-the downside is say minimal but the upside is HUGE if they do find commercial oil in their latest well -West Gallon Jug-and there is plenty more excitement to come with their recent farm in deal in Denmark oil basin-
I rate the shares a STRONG BUY @3p level-Good Luck to all-fingers crossed as they say!

Some news which may be of interest..

Wintershall the exploration arm of BASF discovered an 100mbls oil find 278km west of the Danish port of Esberg.
Not sure how far from NEW's licences will have to look into it,when I get time.

Hi there grannyboy-
Yes- I heard about BASF's oil & gas exploration arm discovering 100mbls of oil just 278 km west of the Danish port of Esberg- i agree it all sounds very positive news for anyone else drilling in same area or nearby -etc-no doubt we will hear more news from New World Oil as to whereabouts their block is situated,etc-watch this space as they say!-meanwhile, all eyes will be on their current well being drilled -West Gallon Jug-in Belize-lets hope we get some positive news!-the shares will react very sharply upwards if we do!-fingers crossed as always!-

Hi all -Well ..the downside was 2p!--just my rotten timing!--thought i had left it long enough before buying these shares @3p on 26th march..anyway I have taken another BOLD step and bght the same quantity of shares yesterday @2.12p..i did ask my stockbroker if he could get some for me at the issue price of 2p but it was a private placing so he was unable to get me some at 2p-hence i had to pay 2.12p -so my average price is now @2.62p..I am sure that the Institutions are more in the know than we outsiders are and that is why i have taken the opportunity of averaging down -lets hope we get some positive update on West Gallon Jug driiling before the end of april-also we could get some positive stockbroker notes on the company now that they have raised the necessary monies to complete their drilling programme in Belize and also in Denmark,etc-fingers ever crossed!

Well good luck with these blueface,hope it pays off for you!.

Talking to yourself again.

Thanks grannyboy--
the share price movement between now and end of april will indicate what the likely outcome is going to be- lets keep our fingers crossed for some upward share price movement!-Happy Easter to all-

Hi all-
well - we have had an encouraging RNS today..and another 1,000 feet (meters>?) still to drill-everything going as well as expected and they have encountered oil shows,etc-the well will be then tested for commerciality when it reaches target depth ..My boker told me yesterday that the market makers were bidding for up to 2.50 million shares and unable to get much stock!--somebody obviously wants the shares!- HB brokers have done a speculative BUY note this week with minimum target price of 6p!!--Fingers crossed as ever!-

Todays rns has the same ring to it as the previous ones before the final duster one..

The only thing that can redeem BK's reputation to any degree would be IF they hit commercial quantities of oil.

The market doe'snt want to hear anymore of BK's lying!!!..

A disaster ....no partner , crap chance of hitting oil if they ever go drilling "With the probability of geologic success currently estimated at 1 in 8 by our competent person"

Up 22% today

The spread is 20% and daft PI are buying in..... crazy

Its a dog without a bone

Maybe but the bone is covered intasty marrow enabling nice 20% plus short term profits.

sp is busy this morning.
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Apparently Ernst & Young have cited NEW as a take-over target!-there is a very large buyer in the market and cannot get stock so I was told by a stockbroker friend of mine- also very positive news expected soon on the farm out negotiations ref:- their Danish acreage & also their Belize acreage too!

Thanks for that blueface, sp settled off it's earlier high @ 1.02p but quite active over recent days, so possible good news soon. How many times have we heard that about companies?
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